- Series Information
- [UNTITLED]
- Contributors
- Introduction
- The Private Equity Contract
- Direct Investments in Private Firms by Institutional Investors: Issues And Evidence
- The Size and Internal Structure of Private Equity Firms
- Leveraged Buyouts and Public-to-Private Transactions
- Private Equity and Public Corporations
- Private Equity Governance and Financing Decisions
- Syndicate Partner Selection: who Syndicates with Whom?
- Industry Concentration, Syndication Networks, and Competition in the U.K. Private Equity Market for Management Buyouts
- A Competition Law Analysis of Private Equity “Club Deals”
- The Real Effects of Private Equity Buyouts
- Buyouts in Western European Countries: The Impact on Company Growth and Innovation
- The Limits of Private Equity: Evidence from Denmark
- Private Equity: Value Creation and Performance
- Do Private Equity Fund-of-Funds Managers Provide Value?
- Fund Size, Limited Attention, and Private Equity Valuation
- Private Equity Investors, Corporate Governance, and Performance of Ipo Firms
- The Role of Private Equity in Private Acquisitions
- Private Equity Activism and the Consequences for Targets and Rivals In Germany
- The Costs of Issuing Private Versus Public Equity for Entrepreneurial Ventures
- Risk and Return Characteristics of Listed Private Equity
- Listed Private Equity: A Genuine Alternative for an Alternative Asset Class
- Listed Private Equity and the Case of Exits
- Buyouts Around the World
- Leveraged Buyouts and Control-Oriented Investments in Asia
- Private Equity in China
- Index
Abstract and Keywords
This article analyzes how the structure of listed private equity (LPE) is different from regular private equity. It notes the risk and return characteristics of listed private equity, and identifies the differences between limited partnership funds (LPFs) and LPEs. The next section considers the major characteristics of listed private equity, along with its advantages, possible shortcomings, and recent development. It also describes the experience of LPEs during the latest financial market recession. This article concludes with a discussion of the issue of private equity performance measurement and the recent liquidity dryout.
Keywords: listed private equity, regular private equity, risk, return characteristics, limited partnership funds, financial market recession, performance measurement, liquidity dryout
Christopher Brown is a managing director at J.P. Morgan Cazenove, where he heads the Investment Companies Research Team. His specialist area is listed private equity. He studied financial economics at Birkbeck College, University of London.
Roman Kraeussl is associate professor of finance at VU University Amsterdam and specializes in venture capital and alternative investments. He is also an adjunct associate professor of finance at Emory University's Goizueta Business School and a research fellow at both the Center for Financial Studies in Frankfurt am Main and the Emory Center for Alternative Investments.
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- Series Information
- [UNTITLED]
- Contributors
- Introduction
- The Private Equity Contract
- Direct Investments in Private Firms by Institutional Investors: Issues And Evidence
- The Size and Internal Structure of Private Equity Firms
- Leveraged Buyouts and Public-to-Private Transactions
- Private Equity and Public Corporations
- Private Equity Governance and Financing Decisions
- Syndicate Partner Selection: who Syndicates with Whom?
- Industry Concentration, Syndication Networks, and Competition in the U.K. Private Equity Market for Management Buyouts
- A Competition Law Analysis of Private Equity “Club Deals”
- The Real Effects of Private Equity Buyouts
- Buyouts in Western European Countries: The Impact on Company Growth and Innovation
- The Limits of Private Equity: Evidence from Denmark
- Private Equity: Value Creation and Performance
- Do Private Equity Fund-of-Funds Managers Provide Value?
- Fund Size, Limited Attention, and Private Equity Valuation
- Private Equity Investors, Corporate Governance, and Performance of Ipo Firms
- The Role of Private Equity in Private Acquisitions
- Private Equity Activism and the Consequences for Targets and Rivals In Germany
- The Costs of Issuing Private Versus Public Equity for Entrepreneurial Ventures
- Risk and Return Characteristics of Listed Private Equity
- Listed Private Equity: A Genuine Alternative for an Alternative Asset Class
- Listed Private Equity and the Case of Exits
- Buyouts Around the World
- Leveraged Buyouts and Control-Oriented Investments in Asia
- Private Equity in China
- Index
